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S.B. 776
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VETOES
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(II) MAY EXAMINE THE BUSINESS OF EACH CREDIT UNION SHARE
GUARANTY CORPORATION AT ANY TIME THAT THE COMMISSIONER REASONABLY
CONSIDERS NECESSARY.
(2) THE COMMISSIONER MAY ENTER INTO AGREEMENTS WITH
THIRD-PARTIES AND DELEGATE THE AUTHORITY TO CONDUCT AN EXAMINATION
REQUIRED OR PERMITTED UNDER THIS SUBSECTION.
(3) IN LIEU OF PERFORMING AN EXAMINATION OF A CREDIT UNION
SHARE GUARANTY CORPORATION, THE COMMISSIONER MAY ACCEPT AN
EXAMINATION REPORT FROM THE RESPONSIBLE SUPERVISORY OFFICIAL OF THE
CREDIT UNION SHARE GUARANTY CORPORATION'S STATE OF DOMICILE.
(B) (1) A PERSON AGGRIEVED BY THE CONDUCT OF A CREDIT UNION SHARE
GUARANTY CORPORATION UNDER THIS SUBTITLE IN CONNECTION WITH THE
CREDIT UNION SHARE GUARANTY BUSINESS MAY FILE A WRITTEN COMPLAINT WITH
THE COMMISSIONER WHO MAY INVESTIGATE THE COMPLAINT.
(2) THE COMMISSIONER MAY MAKE ANY OTHER INVESTIGATION OF ANY
PERSON IF THE COMMISSIONER HAS REASONABLE CAUSE TO BELIEVE THAT THE
PERSON HAS VIOLATED ANY PROVISION OF THIS SUBTITLE, ANY REGULATION
ADOPTED UNDER THIS SUBTITLE, OR ANY OTHER LAW REGULATING CREDIT UNION
SHARE GUARANTY CORPORATIONS IN THE STATE.
(C) IN CONNECTION WITH AN EXAMINATION OR INVESTIGATION MADE
UNDER THIS SECTION, THE COMMISSIONER MAY:
(1) EXAMINE THE BOOKS AND RECORDS OF ANY CREDIT UNION SHARE
GUARANTY CORPORATION OR OF ANY OTHER PERSON WHO THE COMMISSIONER
BELIEVES HAS VIOLATED ANY PROVISION OF THIS SUBTITLE, ANY REGULATION
ADOPTED UNDER THIS SUBTITLE, OR ANY OTHER LAW REGULATING CREDIT UNION
SHARE GUARANTY CORPORATIONS IN THE STATE;
(2) SUBPOENA DOCUMENTS OR OTHER EVIDENCE; OR
(3) SUMMON AND EXAMINE UNDER OATH ANY INDIVIDUAL WHOSE
TESTIMONY THE COMMISSIONER REQUIRES.
(D) IF ANY PERSON FAILS TO COMPLY WITH A SUBPOENA OR SUMMONS
ISSUED BY THE COMMISSIONER UNDER THIS SECTION, THE COMMISSIONER MAY
FILE A PETITION FOR ENFORCEMENT IN THE APPROPRIATE CIRCUIT COURT.
7-211.
(A) A CREDIT UNION SHARE GUARANTY CORPORATION SHALL PAY ALL
REASONABLE EXPENSES FOR TRANSPORTATION, LODGING, AND MEALS ASSOCIATED
WITH:
(1) AN EXAMINATION REQUIRED OR PERMITTED UNDER § 7-210 OF THIS
SUBTITLE; AND
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- 4892 -
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